Vaccines Market Size By Age Group (Pediatric, Adult), By Disease (Cancer, Hepatitis, Pneumococcal Disease, DTP, Dengue, Influenza, Human Papilloma Virus, Meningococcal Disease, Polio, Rotavirus, COVID-19), By Technology (Conjugate, Live, Inactivated, Recombinant, Toxoid), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027

Industry trends

Vaccines Market size was valued at over USD 35 billion in 2020 and is expected to grow at a CAGR of -4.4% between 2021 to 2027. Vaccines are biotechnology products used to protect against targeted disease and are witnessing immense demand with growing incidence of infectious and life-threatening chronic conditions including cancer. Various firms are focusing on development of cancer vaccines to reduce the disease burden.
 

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COVID-19 pandemic has offered momentous growth opportunities to the global vaccine market for launch of new vaccine due to novel nature of the virus. Thus, owing to high market potential, large number of existing and new players are contributing to develop vaccine against coronavirus. At the beginning of the pandemic, there were over 35 institutes/firms that were developing vaccine. In addition, various firms have partnered to effectively develop, manufacture, store and distribute vaccines across the globe. In 2020, AstraZeneca and the University of Oxford announced about their collaboration for development and distribution of recombinant COVID-19 vaccine. Similarly, in 2021, Jubilant HollisterStier LLC, entered into manufacturing agreement with Novavax. The agreement is aimed at offering fill-finish manufacturing COVID-19 vaccine candidate.
 

Hence, COVID-19, as much as has positively impacted the vaccines market, has also created hurdles. With huge demand for COVID-19 vaccine, the manufacturers are facing supply issues, leading to delays. This may limit the market growth up to some extent. Also, due to restrictions, the supply of routine vaccines has also experienced disruptions, thereby negatively affecting the market progression.
 

Funding for vaccine advancement will aid in the market expansion

Financial aid and capital for vaccine development hold considerable value for the industry growth. Organizations including the National Institute of Health, the Wellcome Trust and the Bill & Melinda Gates Foundation offer funding necessary for vaccine development. COVID-19 has tremendously affected numerous people worldwide and has created necessary demand for effective vaccines. The government is investing and funding several researches. For instance, CureVac’s vaccine candidate received about USD 350 million from the German government, more than USD 90 million from the European Commission and over USD 9 million from The Coalition for Epidemic Preparedness Innovations (CEPI). Thus, funding creates favourable environment for vaccine development credited to its cost-intensive nature and will subsequently foster the overall market revenue.
 

Growing awareness about child vaccination through government campaigns will enhance pediatric segment growth

Pediatric vaccines market size was USD 20 billion in 2020. Recommendation by health authorities for early vaccination against various diseases including measles, mumps, rubella, poliovirus and diphtheria, tetanus, & acellular pertussis among several others within 15 months after birth will continuously influence the vaccine demand.
 

Immunization of pediatric patients against fatal diseases that can lead to life-long implications is necessary as children have lesser immunity. Thus, governments have launched awareness campaigns and initiatives to increase vaccination rate among children. In 2019, The Ministry of Health along with UNICEF introduced a promotion campaign for immunization called ‘Childhood, the most beautiful gift’ in Romania. Moreover, growing birth rate in countries such as China and India will impel the segment revenue during the forecast timeline.
 

Rising investment for innovating effective vaccine against hepatitis B will provide immense opportunities for the industry expansion

Hepatitis vaccine segment accounted for 3% of the market share in 2020 led by growing prevalence of hepatitis infection will present opportunities to the segment expansion. Increasing product development, launch and distribution of new vaccines will positively impact the hepatitis vaccine segment value. In May 2021, Bavarian Nordic A/S partnered with Dynavax Technologies Corporation for the distribution of HEPLISAV B. The recombinant vaccine is developed against Hepatitis B and is intended for launch by the end of 2021. In addition, rising awareness and vaccination rate will stimulate the segment size.
 

Growing development of recombinant vaccines including COVID-19 vaccine will spur the segment progression

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Recombinant technology segment captured 22% of the vaccines market share in 2020. Recombinant vaccines are made by making use of yeast/bacterial cells and section of viral or bacterial DNA of the infective agent. Recombinant technology is relatively quick and does not involve use of live viruses for production.
 

Several research institutes and players have been adopting recombinant technology for vaccine development. For instance, GenScript makes use of E. coli expression manufacture of recombinant protein for vaccine research applications. Similarly, COVIDSHIELD vaccine manufactured by Serum Institute of India and AstraZeneca are based on recombinant vaccine technology. Thus, with growing advancements and emergence of novel diseases, recombinant technology will observe robust growth potential.
 

Emergence of endemic diseases coupled with high awareness rate will create growth opportunities for the U.S. region

North America vaccines market held more than 38% of revenue share in 2020 owing to the presence of several local players and research institutes involved in developing and commercializing effective vaccines. For instance, Moderna has emerged as a valuable contributor in the U.S. with its novel mRNA based COVID-19 vaccine.
 

Emergence of seasonal diseases influences the demand for vaccines. For instance, the frequently altering influenza virus affects large population in the country and thus creates need for effective vaccine. Similarly, in 2017, the U.S. showcased large epidemic of hepatitis A infection in the adult population that lead to higher demand for hepatitis vaccine. With such growing incidence of infectious and chronic conditions, the market will experience large supply of vaccines.
 

High awareness rate about vaccination also forms a major driving factor for the U.S. industry progression. The nation completed vaccination of large proportion of population against COVID-19 since approval of the Moderna vaccine. Thus, high acceptance rate, sophisticated infrastructure and production capacity will positively impact on the growth of North America region during the forecast timeline.
 

Acquisitions, innovation and collaborations are the chief strategies adopted by vaccine manufactures to achieve significant position in the booming human vaccines sector

The global market consists of several valuable players operating at global, regional and country-level; however, the industry has some notable vaccine providers such as Sanofi Pasteur, Merck, GlaxoSmithKline (GSK), and Pfizer among others. These competitors have wide portfolio of vaccines and adopt strategies such as partnerships and collaborations for enhancing their business revenue. During COVID-19 pandemic, numerous small and local players have also emerged to develop vaccine against COVID-19 and are continuously undertaking various initiatives to strengthen distribution chain and augment customer base.
 

Some of the recent industry developments:

• In May 2021, the Gamaleya National Research Center of Epidemiology and Microbiology and the Russian Direct Investment Fund proclaimed about authorization of Sputnik Light vaccine in Russia. This single dose COVID-19 vaccine with high efficacy will aid in expansion of product portfolio and customer base.
   
• In May 2020, Merck Sharp & Dohme (MSD) announced its agreement to acquire Themis. The latter company is involved in vaccines and immune-modulation therapies for cancer and infectious diseases. It has exclusively licensed novel measles virus vector platform by Institut Pasteur. The strategy aimed at spurring vaccine portfolio of MSD.
   

The vaccines market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2027 for the following segments:

Market, By Age Group

• Pediatric
• Adult

Market, By Disease

• Cancer
• Hepatitis
• Pneumococcal disease
• DTP
• Dengue
• Influenza
• Human papilloma virus
• Meningococcal disease
• Polio
• COVID-19
• Others

Market, By Technology

• Conjugate
• Live
• Inactivated
• Recombinant
• Toxoid
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Qatar
  • Egypt